Energy Social Media and Updates

US Oil Output Stays Flat Despite War‑Driven Price Surge

U.S. oil production after the war ends U.S. oil production is unlikely to rise much as a result of the war with Iran and closure of the Strait of Hormuz unless the interruption of oil supplies and rise in prices proves much more prolonged than traders currently anticipate. U.S. crude futures prices for oil delivered in May have risen by almost $44 per barrel (75%) from their low just after the start of the year, but except for a few stripper well operators most producers cannot raise output that fast. Futures for deliveries in December (realistically the fastest producers might be able to raise output significantly) have risen by just $15 (25%), probably not enough to encourage a significant increase in drilling activity ...